Moonshot AI targets US$12 billion valuation as overseas revenue surges for Kimi models

AI Summary
Moonshot AI, a Chinese startup known for its Kimi AI models, is seeking a valuation of up to $12 billion after securing at least $700 million in a new funding round. The funding, occurring just a month after a previous round, is driven by significant investor interest in Chinese AI companies and could nearly triple Moonshot's prior $4.3 billion valuation. The round was co-led by existing investors including Alibaba Group Holding, Tencent Holdings, Andon Hong Kong and 5Y Capital. Moonshot's Kimi K2.5 model has been recognized as a leading open-source model globally, rivaling similar US models. The company's overseas revenue has reportedly surged, contributing to its increased valuation.
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